Mining Baron and former Karnataka Tourism Minister Gali Janardhan Reddy is in trouble once again but this time the issue is not regarding illegal mining but an illegal deal. Police has interrogated two men, Fareed and Ballari Ramesh regarding the case. Janardhan Reddy is expected to be interrogated by CCB (City Crime Branch) sleuths in Bengaluru.
Bengaluru City Police Commissioner Suneel Kumar addressed the media and said, "Fareed, a business man started Ambidant Marketing private limited in Bengaluru between 2016 and 2017. The company promised investors of providing as much 40% returns on their investment in their company. After a few months, some investors complained against Ambidant saying that it did not full fill its promises."
The commissioner added, "Complaints were registered against Fareed with the ED,IT and DJ Halli police station. The Income Tax department and Enforcement Directorate raided the office of Ambidant in Bengaluru and seized relevant documents. "
The police said that Fareed had told them during interrogation that he approached Janardhan Reddy to help him come out of the ED case. The former BJP leader is said to have told that he would quash the case pending before ED using his sources. Reddy apparently demanded 18 crore rupees to seal the deal.
The commissioner said, Fareed agreed for the deal and paid 18 crore rupees through mediators. Reddy's close aide Ali Khan is said to have transferred the money to a bullion trader named Ramesh Kothari. He in turn gave 57 kilos of gold to Ballari Ramesh, the latter is said to given the gold to Janardhan Reddy. Ballari Ramesh is also said to be close to Reddy and he is the owner of Rajmahal Fancy Jewellers.
The Bengaluru police has formed four special teams to nab Janardhan Reddy. They're expected to be questioned regarding the case. Ali Khan is meanwhile out on bail. Speaking to Republic tv, Bengaluru Police Commissioner Suneel Kumar said lawful action will be taken against all those involved in the case. The ponzi scam is estimated to be around Rs 500 crore rupees.